Insurance

Graded Premium Whole Life Policy Comparison

Article Abstract:

This is the third comparison of different policies, and it features Graded Premium Whole Life, which is a fairly new idea. It is different from the more traditional product in that it has a lower initial premium, offers no guaranteed cash values at ten years, and only small ones after twenty years. It may be that cash values are not given until the age of seventy, which resembles Annual Renewable Term. A table features contracts comparing Graded Premium Whole Life Policy comparisons. New rates for policies, according to the dividend scales of 1984 will be out shortly. Table rates are based on one- thousand dollars for one hundred thousand dollars on a policy for a male at the age of thirty-five. Initial and ultimate premiums are projected. Total annual premiums for one and two decades are founded on current and guaranteed premiums. Payment index, cost index, and surrender data are also included.

Choice, Costs, and Competition

Article Abstract:

Consumer incentives are being investigated by employee groups, unions, and policymakers. Many firms have already altered their health care plan in an attempt to revolutionize worker perception of health care use. There is not enough background research at present on health care competition. This research highlights the health care benefit innovations involving competitive benefits. This occurs when a plurality of health plans are available, or specified money exchanges can be made between health benefits and cash payments. Consumer selectivity was the focal point of the study. All the plans considered offered selections from the following areas: multiple-choice programs, cafeteria programs, preferred provider programs, and utilization programs. The goal of all these programs is to contain, rather than lower costs. Preferred provider programs were judged to be optimal.

Making the Purchase Decision

Article Abstract:

In choosing an insurance company and product, the consumer relies on advertising, sales presentations, and recommendations of family and friends. Marketers must make consumers aware of problems and market products accordingly. Marketers should begin to concentrate on non-sales force methods of selling life insurance. Man- power is expensive and may not be the most cost effective way to sell life insurance. Customer satisfaction and company follow up is cost effective and employs peer recommendations as a marketing tool.